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Halibut: $Multimillion Industry for New Brunswick?

CANADA - Tillman Benfey and a team of academics should know by next spring whether halibut aquaculture could be a multimillion-dollar industry in New Brunswick.

That's when the professor of biology at the University of New Brunswick in Fredericton expects all the data will be in from a three-year research project looking at the viability of farming halibut in the Bay of Fundy, writes Erin Dwyer for the Telegraph Journal.

But so far, the evidence points to a positive conclusion, he says.

"Everything so far is looking very encouraging," he told the New Brunswick Business Journal. "It will mean that we have an opportunity to diversify our aquaculture industry here in New Brunswick."

Beginning next month and over this coming winter, the first halibut from the research team's test population of 50,000 fish will be harvested and sent to market, where they could fetch upwards of $7 per pound compared to about $3 per pound for farmed salmon. For the last three years, the test fish have been growing inside aquaculture cages in Lime Kiln Bay, off St. George, owned by Canadian Halibut.